David Bruce

Mortgage Info Category

October 15th, 2008

First Time Homebuyers, Don’t Miss Out!

Don’t miss the opportunity of a lifetime! A new Federal Home Buyer Tax Credit provides $7500 to help qualified first time home buyers get into the house of their dreams. For potential first time home owners this newly enacted legislation can provide a bridge to that some times elusive dream of owning a home.Homes purchased on or after April 9, 2008 and before July 1, 2009 are eligible.

First-Time Home Buyer Tax Credit at a glance:

• The tax credit is available for first-time home buyers only.
• The maximum credit amount is $7,500.
• The credit is available for homes purchased on or after April 9, 2008 and before
  July 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
• The tax credit works like an interest-free loan and must be repaid over a 15-year period.

For more information please email us!

September 23rd, 2008

Fannie Mae, Freddie Mac and the Election

John McCain and Barack Obama agree the Treasury needed to step in to rescue Fannie Mae and Freddie Mac. They disagree over how much the U.S. government should be involved in the housing market once the immediate crisis is past.

The differences between the two presidential candidates over the lenders mirror a broader philosophical divide over the part the government should play in the economy. Read the rest of this entry »

September 22nd, 2008

9/19/08 Historic Week in Financial Markets!

This was a historic week in financial markets. One major investment bank declared bankruptcy, another sold itself, and the world’s largest insurance company needed a government bailout. Central banks around the world had to inject hundreds of billions of dollars into the banking system to calm the markets. Through all this, mortgage rates ended a volatile week little changed. Read the rest of this entry »